Bega Cheese, the Australian cheese firm, is to acquire a manufacturing facility in the state of Victoria, Australia from Canadian dairy giant Saputo, according to an ABC report. Saputo was required to sell the plant by Australian competition regulators as a result of its acquisition of dairy firm Murray Goulburn. Located in the town of Koroit, the plant is described as being one of the largest milk drying facilities in …
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Bega Cheese
Mondelez International, the global food giant, has announced that it has reached an agreement to sell most of its grocery brands in Australia and New Zealand to dairy firm Bega Cheese. The deal, which excludes the Philadelphia cream cheese business, is valued at A$460 million ($345 million). Included in the sale are brands such as Vegemite, ZoOsh, Bonox, as well as other products that use the Kraft brand under license, …
Dairy cooperative Murray Goulburn has signed a deal to become the supplier of private label cheese products to supermarket chain Coles from 2017, according to a report in Australian Food News. Commenting on the deal, Murray Goulburn said: “The contract includes the supply of a range of Coles brand cheddar-style cheese including tasty, colby, mild and light cheese in blocks, shreds and slices for Coles supermarkets across Australia. The national …
Australian dairy producer Bega Cheese has posted record profit for its 2013/14 financial year, ABC Online and The Business Spectator report. Bega posted a total net profit of A$66 million ($61 million), up 160 % on the A$25.4 million it booked in 2012/13, much of which was attributed to the company’s sale of Warrnambool to Canadian firm Saputo, after its own failed takeover bid. Bega’s shares in Warrnambool were worth …
Canadian company Saputo will now face only rival Murray Gouldburn to acquire Australia’s oldest diary processor Warrnambool after Bega Cheese withdrew its bid, according to Canadian Manufacturing. Bega Cheese had launched a fierce bidding war over the acquisition of Warrnambool in September. However its share offer has thus far attracted less than 1% of shareholders. The move is likely to be to the advantage of remaining rivals Saputo and Murray …
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